A variety of electronic asset retention systems are known to those of ordinary skill in the art. For example, automobile dealerships, rental properties, and the like utilize a variety of electronic key retention systems that are operable for selectively identifying one or more keys from a plurality of keys, releasing the keys to an authorized user upon request, logging and/or tracking the use of the keys by the authorized user, and ensuring that the keys are eventually returned. In general, these asset retention systems include a plurality of asset retention devices that are coupled to some sort of main console. These asset retention devices then selectively releasably retain a plurality of assets, or are securely coupled to the plurality of assets and then are selectively released from the main console, either by mechanical, electrical, or electromechanical means. The main console includes appropriate circuitry and processing logic for performing all of the functions of the asset retention system, and communication links with external devices may be provided. Examples of such asset retention systems are provided in U.S. Pat. Nos. 6,505,754; 7,654,853; 7,852,214; 7,336,174; and 7,965,190; among others.
As an example, the asset retention device may be a key fob, asset holder, or the like, which holds a key or other asset on a ring and is selectively and releasably secured to the main console. The asset retention device includes an identifying chip or the like that allows the main console to detect the presence of and identify the asset retention device when it is coupled to the main console, and detect the absence of the asset retention device when it is removed from the main console. Disadvantageously, it is often possible to simply cut the ring and remove the key or other asset from the asset retention device. In such a case, the asset retention system still believes the asset is present because the asset retention device is still coupled to it. However, the asset has been removed from the asset retention device. A solution to this problem is still needed in the art.